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Perform the following using R and show/explain the results. Assume you represent a worldwide distributor of classic cars. Create a Monte Carlo simulation with 10,000
Perform the following using R and show/explain the results. Assume you represent a worldwide distributor of classic cars. Create a Monte Carlo simulation with 10,000 trials to demonstrate the property that, if the amount of time it takes before your next customer makes a purchase can be modelled using an exponential distribution with a rate of 10 per day, then the number of times customers will make purchases in a day will follow a Poisson distribution with =10. Develop a histogram to reinforce your result.
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